PPP Loan Data — Primary Care Partners, Inc, Grand Junction, CO

Primary Care Partners, Inc

Entity: Corporation

Industry: Offices of Physicians (except Mental Health Specialists)

Location: Grand Junction, CO

Primary Care Partners, Inc is a corporation located at 3150 N 12th Street in Grand Junction, Colorado that received a Coronavirus-related PPP loan from the SBA of $4,255,926.00 in April, 2020.

$ PPP Loan Information
Loan #6020527002

Loan Size:

$4.26M

Jobs Retained:

305

Loan Approved:

2020-04-06

Loan Status:

Paid in Full or Forgiven

Lender:

ANB Bank

Primary Care Partners, Inc in Grand Junction, CO received a Paycheck Protection Loan of $4.26M through ANB Bank, which was approved in April, 2020.

This loan's status is reported by the SBA as "Paid in Full", which includes both loans repaid and those fully forgiven from repayment under PPP guidelines. The loan's status was last updated by the SBA in July, 2021.

Payroll Estimates Based On SBA PPP Loan Eligibility Formula

Understanding The SBA Formula For Determining PPP Loan Eligibility

The simplest way to describe the standard PPP calculation is that businesses are eligible to receive a maximum PPP loan of up to 2.5 x average 2019 monthly payroll costs. However, specific calculation methods vary based on entity type and have numerous qualifications.

Understanding Payroll Estimates Based On PPP Amount

Please note that payroll estimations are based on a simplified PPP eligibility formula and do not account for factors such as salaries over $100k and other PPP eligibility components.

Based on the standard PPP eligibility formula, it may be possible to estimate the payroll expenses represented by a company on their PPP application (see details above). In order to qualify for the PPP loan amount received, Primary Care Partners, Inc's 2019 payroll expenses are estimated to be at least $20.43M.

Based on their reported 305 jobs retained, this equals an estimated average yearly compensation of $66,979 per employee¹

Reported PPP Proceed Usage:

On the PPP application, Primary Care Partners, Inc reported intending to use the proceeds of their PPP loan for the following expenses:

Payroll: $3,191,945
Rent: $1,063,981

Because the loan received by Primary Care Partners, Inc is at least $2M dollars, it is subject to a full review by the SBA to ensure eligibility and compliance with PPP program requirements.

Business Information - Primary Care Partners, Inc in Grand Junction, CO

Primary Care Partners, Inc
3150 N 12th Street
Grand Junction, CO 81506

Business Industry:
Offices of Physicians (except Mental Health Specialists)
NAICS code 621111

Business Owner Demographics

Race: Unreported

Ethnicity: Unreported

Gender: Unreported

Veteran Status: Unreported

Business Demographics

Business Age: Existing or more than 2 years old

LMI Zone: N

HUBZone: N

Rural / Urban: Urban

Mesa County, CO — SBA Office 0811 — Congressional District: CO-03

Similar Companies near Grand Junction

In the Grand Junction area, 61 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a PPP loan. These local businesses reported an average of 12 employees (compared to this company's 305) and received an average PPP loan of $149,409 (compared to this company's $4.26M).

Similar Nearby Businesses Who Received PPP Funding:

Endoscopy Center Of Western Colorado
Grand Junction, CO

$33,200 PPP Loan

J Dale Utt DO PC
Grand Junction, CO

$20,833 PPP Loan

Gregory J Tarman MD
Grand Junction, CO

$21,900 PPP Loan

Angela M. Pennell, MD Prof. LLC
Grand Junction, CO

$20,800 PPP Loan

Jill Simmons Hilty
Grand Junction, CO

$2,369 PPP Loan

Western Rockies Eye Center
Grand Junction, CO

$185,964 PPP Loan

George R Winters III MD PLLC
Grand Junction, CO

$23,333 PPP Loan

William Pace
Grand Junction, CO

$20,833 PPP Loan

Industry PPP Comparison Statistics

Nationwide, 176,421 businesses in the "Offices of Physicians (except Mental Health Specialists)" industry received a total of $21.05B in PPP loans. These businesses account for 2% of total PPP applications submitted, and received 3% of the total PPP funding allocated.

PPP recipients in this industry report an average of 11 employees, 96% lower than Primary Care Partners, Inc's reported 305 employees, and received an average PPP loan of $119,312, 97% lower than this company's loan of $4.26M.

FederalPay's PPP Information Policy

Paycheck Protection Loan data has been made public by the Small Business Administration (SBA) for all private companies that received a PPP loan.

All information displayed on this page is publicly available information under PPP loan guidelines, in compliance with 5 U.S.C. § 552 (Freedom of Information Act) and 5 U.S.C. § 552a (the Privacy Act) and is published unmodified, as provided by the SBA. FederalPay does not modify the data and makes no claims regarding its accuracy.

Any corrections or modifications to this data can only be made via the SBA. For more information, please see the FederalPay PPP Data Policy.

Search FederalPay's Full PPP Loan Database

Footnotes & Information

1. Estimations for informational purposes only. Payroll and salary estimates assume the borrower used the standard PPP calculation of 2.5 x average 2019 monthly payroll costs to determine PPP loan eligibility. Calculation methods vary based on entity type. Please read the latest official SBA PPP calculation rules for a full explanation of PPP loan amount calculation methods.

2. If a company's reported number of employees divided by the maximum PPP range amount per the SBA is greater than $100,000, the estimated maximum PPP loan received by the company can be adjusted down to assume no more than $100,000 yearly salary per employee was used in the PPP application. While employees at the company may earn more, $100k / employee is the maximum amount that can be used in PPP eligibility calculations.

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